Millimeter Wave Technology Market: Trending Technologies, Developments, Key Players and End-use Industry to 2027

The global millimeter wave technologymarket is segmented by product into scanner systems, radar & satellite communication systems and telecommunication equipment; by component into antennas & transceiver components, frequency sources & related components, communication & networking components, imaging components, RF & radio components, sensors and controls, interface components, power & battery components and others;  by frequency band into bands between 8 Ghz-57 Ghz , bands between 57 Ghz-86 Ghz and bands between 86 Ghz and 300 Ghz; by license into light licensed frequency, unlicensed frequency and fully licensed frequency; by application into mobile & telecom, consumer & commercial, healthcare, industrial, automotive & transportation, military, defense, aerospace and others.

Millimeter wave provides wireless communications with merging of Wi-Fi and cellular services. Millimeter wave technology is extensively used in sectors such as consumer & commercial, mobile & telecommunication and healthcare. It is expected that the market for millimeter wave technology will grow rapidly during the forecasted period at a good CAGR. Millimeter wave technology is in high demand in telecom industry which expected to bolster the market growth of millimeter wave technology globally over the forecasted period.

North America holds the latest market share in millimeter wave technology market due rising need for high-speed data transfer and overuse of the existing spectrum in the telecom industry. Asia Pacific is anticipated to be the fastest growing market of millimeter wave technology in terms of revenue over the forecasted period due to growing demand for high-speed network for accessing smart applications on commercial and residential levels. Europe is expected to show a positive growth over the forecasted period due rising penetration of internet services, cloud computing and e-governance services.

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Antennas &Transceivers Components Hold Lion’s Share

Electronic scanning capabilities that are highly compatible with conventional communications systems and early years of adoption of antennas & transceivers are expected to occupy a major market share. Technological developments such as waveguide slot antenna to triplate antenna and micro strip antenna are expected to spur the growth of millimeter wave technology market globally.

Many other developments are seen in the design and implementation of efficient antennas for radio communication equipment and mobile communications which in turn are expected to bolster the growth of millimeter wave technology market globally over the forecasted period.

The operation of millimeter wave technology is affected by interference from nearby cellular towers, electric poles and cellular hotspots which can act as a challenge for the growth of millimeter wave technology market globally.

The report titled “Millimeter Wave Technology Market: Global Demand Analysis & Opportunity Outlook 2027” delivers detailed overview of the global millimeter wave technology market in terms of market segmentation by product, by component, by application, by license, by frequency band and by region.          

Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.

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This report also provides the existing competitive scenario of some of the key players of the global millimeter wave technologymarket which includes company profiling of NEC Corporation, Millivision Technologies, E-Band Communications, LLC, BridgeWave Communications, Inc., Millivision Technologies, Farran Technology, Siklu Communication Ltd., ELVA-1, Vubiq Networks, Inc. and CableFree: Wireless Excellence. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global millimeter wave technology market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.

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